“We regret to announce that despite the tremendous enthusiasm many have expressed about the Dega Jam festival, set for this 4th of July weekend at Talladega Superspeedway, the event has been cancelled,” a statement reads on the festival’s website. “We sincerely apologize to everyone impacted by this difficult decision—fans, artists, industry partners, corporate partners, and everyone at Talladega Superspeedway.”

Those who purchased tickets to the event will automatically receive full refunds, including all service charges, beginning today (Feb. 23).

The move follows the sudden cancellations of AEG Live’s Big Barrel country music festival in Dover, Del., as well as Live Nation’s FarmBorough Music Festival in New York, and Delaware Junction in Harrington, Del.

None of these festivals have given direct answers as to why they were axed by organizers, but many speculate that poor ticket sales were a major factor. Over the past few years, the amount of country music-oriented festivals has spiked dramatically, making competition more fierce and driving up the costs for concertgoers.

AEG Live organized the development of Dega Jam and the Country 500 at Daytona International Speedway with NASCAR as a way of expanding their multi-million brand. The company tells Billboard that they still plan on holding the Country 500 over the upcoming Memorial Day weekend.